In all the talk about what’s ahead in 2016 for CMOs, one of the most buzzed-about topics continues to be the marketing technology landscape. For most CMOs, #martech is evolving so quickly that it’s a constant work in progress. A recent marketing technology report from Ascend2 revealed only nine percent of marketers have all the marketing technology they need and fully utilize it.
Despite the challenges associated with martech adoption, the benefits are clear. In the same Ascend2 survey, 87 percent of respondents said marketing technology is improving marketing performance at their companies – and 32 percent said it was improving it significantly.
Keep reading for the marketing technology trends to watch in 2016.
Real-Time Analytics and Data Visualizations
“By the end of 2016, CMOs will no longer present slideware to show their impact on revenue in their organizations. Thanks to the emergence of real-time explanatory analytics and data visualization platforms, CMOs will access data visualizations in real time to show senior execs actual impact as it’s unfolding. And this exercise in exploring data correlated to revenue in real time will jump the curb beyond the marketing organization and become a normal daily activity for the entire C-Suite by the end of next year.” – Forbes
“Technology is now available on hand to transform marketing into an always-on, real-time process. It can allow you to take full control of campaign performance and spending, have real-time data on hand, and drive effective customer engagement. Tactical moves can now be made in a manner of hours, and not years like before. Leveraging technology can help break the vicious cycle of price promotions and enable CMOs to operate in tandem with their respective CEOs to respond to the evolving market conditions in real time.” – MarTech Advisor
A System-Wide Approach to Marketing Technology
“Ultimately, CMOs will define what they need in a marketing stack and usher in a system-wide approach to driving technology into marketing. This kind of top-down approach will happen simultaneously with the adoption of single-point solutions. At its core, the all-in-one promise of the stack is what everyone wants, but finding the best fit for a range of needs presents a much larger challenge than do the (relatively) simpler single-point solutions.” – Chief Marketing Technologist Blog
Connecting Specialized Solutions
“Today’s technology landscape is an integrated one, with a variety of solutions connecting with and passing information between each other. The winners in this space seem to be those that build niche solutions and APIs that let the software play well with others. Nowhere is this more evident than with marketing software. The CMO—now the key buyer of marketing technology instead of the CIO—knows that to make all the different parts of the puzzle fit together, software that “wears many hats” isn’t needed. Instead, we need several specialized solutions with the ability to speak to each other really well.” – MarketingProfs
CMOs and CIOs Start Speaking the Same Language
“Marketers and technologists aren’t used to speaking the same language. When priorities are stacked side-by-side, neither group understands how one goal might affect another team’s need. Therefore, it’s essential that both parties learn how to communicate the value in new technology and work hand-in-hand to ensure seamless implementation.” – The Content Standard